NORTHERN SUN MINING CORP LBEFF

RE: ExSudburyGuy2 Was Right...

[victor2009]

ExSudburyGuy,

I'm still hanging around, and I still feel the company has potential.

I find your presentation of your case for stating that Chinese based companies listed on the Hong Kong having a lack of interest in profit, very interesting. In your previous post you gave two reasons why Jilin Jien didn't care if LBE was profitable.

One was:  "Liberty has been paying much of their debt to JJ in nickel concentrate. So they do get the commodity directly from Liberty. And that's what they want. Which is why they don't care if they make money...."  I pointed out that your assumptions were false, but you don't acknowledge this. You move on to supposedly support your second conclusion, and you link to an article that you say illustrates the "Chinese lack of interest in profit"

I read the article, and nowhere in the article does it say that Chinese companies have a lack of interest in profit. In fact the article makes the statement "Wall Street turned its nose up at all of those deals as being too expensive for too little. But as usual, it’s missing a potentially profitable trend." The article is in fact stating the opinion that in recognizing the potential in commodities and agriculture, the Chinese are not missing potential profits that "Wall Street" companies have passed up. How do you turn that around to say Chinese companies have a lack of interest in profit? Instead of supporting your contention, you've just provided an article that contradicts what you claim.

As I mentioned, I am somewhat familiar with another company in the Canadian resource industry that is controlled by shareholders based in China. That company has done quite well for itself, and its minority shareholders, through having committed to investment in a resource commodity when the commodity was priced at a fraction of today's value. Believe me, the foresight and financial success of this "Chinese" investor was not achieved by having "a lack of interest in profit".

I am still interested in your rationale in stating that companies listed on a major Stock Exchange have a lack of interest in profit. You didn't mention whether you thought Jilin Jien was state-owned, you were mistaken on Jilin Jien getting nickel direct from LBE, are you also mistaken on their corporate status?